LTC Properties, Inc. (NYSE:LTC) Shares Sold by Legal & General Group Plc

Legal & General Group Plc cut its stake in LTC Properties, Inc. (NYSE:LTC - Free Report) by 4.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 298,262 shares of the real estate investment trust's stock after selling 12,637 shares during the quarter. Legal & General Group Plc owned about 0.66% of LTC Properties worth $10,305,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. FMR LLC increased its position in LTC Properties by 132.7% during the third quarter. FMR LLC now owns 2,899 shares of the real estate investment trust's stock worth $106,000 after purchasing an additional 1,653 shares during the last quarter. HighTower Advisors LLC grew its stake in shares of LTC Properties by 26.7% in the 3rd quarter. HighTower Advisors LLC now owns 17,060 shares of the real estate investment trust's stock valued at $633,000 after buying an additional 3,600 shares during the period. Stifel Financial Corp acquired a new stake in shares of LTC Properties during the 3rd quarter worth approximately $283,000. Jane Street Group LLC raised its position in shares of LTC Properties by 78.2% during the 3rd quarter. Jane Street Group LLC now owns 84,398 shares of the real estate investment trust's stock valued at $3,097,000 after buying an additional 37,049 shares during the period. Finally, Barclays PLC lifted its holdings in LTC Properties by 148.8% in the third quarter. Barclays PLC now owns 87,972 shares of the real estate investment trust's stock valued at $3,228,000 after acquiring an additional 52,619 shares during the last quarter. Hedge funds and other institutional investors own 69.25% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on LTC. Wells Fargo & Company cut their target price on LTC Properties from $38.00 to $36.00 and set an "equal weight" rating for the company in a research note on Monday, March 10th. JMP Securities raised LTC Properties from a "market perform" rating to an "outperform" rating and set a $40.00 price objective for the company in a research report on Tuesday, January 7th. Finally, Citizens Jmp upgraded shares of LTC Properties from a "hold" rating to a "strong-buy" rating in a report on Tuesday, January 7th.

LTC Properties Trading Up 1.5 %

NYSE LTC traded up $0.53 on Tuesday, reaching $36.08. The stock had a trading volume of 331,621 shares, compared to its average volume of 303,126. The company has a quick ratio of 11.60, a current ratio of 11.60 and a debt-to-equity ratio of 0.75. The stock has a fifty day moving average price of $34.97 and a two-hundred day moving average price of $35.70. LTC Properties, Inc. has a 12-month low of $31.70 and a 12-month high of $39.89. The firm has a market capitalization of $1.66 billion, a price-to-earnings ratio of 15.49 and a beta of 0.74.

LTC Properties (NYSE:LTC - Get Free Report) last posted its earnings results on Monday, February 24th. The real estate investment trust reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.07. The firm had revenue of $34.81 million for the quarter, compared to analyst estimates of $45.25 million. LTC Properties had a return on equity of 10.49% and a net margin of 48.77%. As a group, sell-side analysts forecast that LTC Properties, Inc. will post 2.79 EPS for the current fiscal year.

LTC Properties Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 20th will be issued a $0.19 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 6.32%. The ex-dividend date is Friday, June 20th. LTC Properties's dividend payout ratio (DPR) is currently 111.22%.

LTC Properties Profile

LTC Properties, Inc is a real estate investment trust, which engages in managing seniors housing and health care properties. It operates through the Texas, Michigan, Florida, Wisconsin, Colorado, and Remaining States geographic segments. The company was founded by Andre C. Dimitriadis on May 12, 1992 and is headquartered in Westlake Village, CA.